Stay Informed on the Local Market

There is a lot of free information available to you about buying, selling or investing in  Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com.  Contact Mike Weiland & Elke Stephan with Edina Realty with any of your real estate or mortgage related questions call the 24 Hour Recorded Information Hotline Now For Details...1-888-391-9039 Ext. 126.

P.S. You can access the best deals on Downtown Minneapolis condos as well as insider information about privately available condos by clicking this link >>>Minneapolis Condos<<< or call the Free 24 Hour Recorded Information Hotline Now...1-888-391-9039 Ext. 126.

3 Things You Must Know About Hiring a Contractor in Downtown Minneapolis, by Real Estate Expert Mike Weiland.

Note: You can access the best deals on Downtown Minneapolis condos as well as insider information about privately available condos in Downtown Minneapolis Condos!

If you're a seller or investor who wants to get the best price for your property, chances are at some point you're going to have to work with a contractor. In this article, we'll go over 3 essential things you must know about working with contractors to ensure the most affordable, most timely, and highest quality work.

Tip #1 - Be Very Specific

When you're requesting a bid or when you're talking about a job with a contractor, be very very specific about what you're looking for.

After you've agreed on a number, you should also be very meticulous about being specific in what you put in writing.

Taking this precaution will ensure you get exactly what you want, no more and no less.

Tip #2 - Find a Good, Reliable Contractor

Speak with several contractors before you decide on one for sure. Get a feel for the quality of the contractor's quality of work and integrity. Don't just decide based on price.

If your contractor is experienced, they should have references you can check. Check them.

Once you find a contractor you might want to work with, double check their license with the Secretary of State website. Remember, you're entrusting your property with this person, so it absolutely makes sense to do careful due diligence beforehand.

Tip #3 - Payment Tips

In general, it works in your favor to pay your contractor by project rather than by hours. A contractor can estimate how many hours it will take to complete a job, but that's just an estimate and the contractor can always exceed that estimate.

Rather than overpaying because your contractor billed by hour, agree to pay per project only.

Do not release payment until the job is complete. Once a contractor has been paid, often times they won't finish the job or the finished work will be of lesser quality. Even if the contractor asks, do not pay release payment for the job until the work is complete.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Condos or Minneapolis Lofts. For complete information about the Downtown Minneapolis Condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com. Contact Mike Weiland & Elke Stephan with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.S. You can access the best deals on Downtown Minneapolis condos as well as insider information about privately available condos in Downtown Minneapolis Condos!

Downtown Minneapolis/ North Loop Neighborhood (from Minnesota Monthly)

2009 MEDIAN SALES PRICE: $291,100**
DINING/ENTERTAINMENT: Top-shelf
NEWEST ATTRACTION: Target Field

There are few better ’hoods than the North Loop for thirtysomething Power Singles (high income, highly educated), Ramen Metros (urban singles sans high incomes), or downsizing baby boomers. Homes run to lofty open spaces in renovated warehouses with concrete floors and exposed brick. From its gritty industrial past, the North Loop has morphed into a residential neighborhood with the city’s hottest nightclub scene.

Residents walk to work (through skyways come winter) or just settle in with laptops at any one of a half-dozen independent coffee joints in the neighborhood. Corner Coffee offers lattes and a lot more, including an annual “lunch is on us” that served 700 last year. On the patio at Cuzzy’s Bar in dog-friendly North Loop, everybody will know your name (or at least your dog’s name). Great dining abounds—Sapor Café/Bar, Toast Wine Bar & Cafe, Be’Wiched Deli, and Bar La Grassa, to name a few. Groceries?  Minneapolis Farmers’ Market in the summer and Lunds just across the river all year round. Then there’s the new kid in the neighborhood: Target Field, which now dominates the skyline and is guaranteed to increase community cachet, and probably property values as well.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Condos. For complete information about the Downtown Minneapolis Condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis Condos at www.LivingInDowntownMinneapolis.com. Contact me, Mike Weiland with Edina Realty with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.S. To find the best deals on Downtown Minneapolis condos as well as insider information about privately available condos, click here!

Basic Facts about President Obama's condoowner Plan – How It Affects condo owners in Downtown Minneapolis, by Mike Weiland, an Experienced Expert in the Downtown Minneapolis Condo Market

President Obama found himself caught in the middle of an economic crisis immediately upon being elected to office, and one of his first tasks was to address the housing problem in America. At the end of 2008 there were approximately one out of every ten mortgages in delinquency. The housing act was introduced to lessen the amount of foreclosures in the foreseeable future. Here are a few main points of the act that can help condo owners in Downtown Minneapolis keep their condos.

#1 Downtown Minneapolis condo owners are given help to refinance their mortgages.

#2 Incentive plans have been put in place and offered to lenders that will modify the mortgage terms for people that have taken loans.

#3 Downtown Minneapolis condo owners' principal balance cannot be more than 729,750 dollars.

#4 Loans must have been taken out before January 1, 2009.

#5 The mortgage payments will be reduced to 38% of the person's monthly income. The government will further reduce these payments down to 31% with a subsidy.

#6 Loans can be brought down by reducing the interest rate to 2%, reducing the principle or by extending the length of the loan.

Many condo owners in Downtown Minneapolis have been able to keep their condos on account of this act. It has not been able to help everyone, but the majority of Downtown Minneapolis condo owners that have applied for help have been accepted and able to keep their condo. It is important to remember that this act was not designed to save all condo owners, but rather as a blanket solution to help many and save the economy.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis condos. For complete information about the Downtown Minneapolis condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis condos at www.LivingInDowntownMinneapolis.com. Contact me with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.s. For instant and unlimited free search of Downtown Minneapolis condos click here to begin your search now!

Where has the Twin Cities real estate market been and where is it heading?

Note: For a free Downtown Minneapolis Condo Buyer eBook that covers the condo buying process from beginning to end click here.

Watch this short video for a recap of our 2009 real estate market.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis condos. For complete information about the Downtown Minneapolis condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis condos at www.LivingInDowntownMinneapolis.com. Contact me with any of your condo or mortgage related questions today. Call 612-735-6834 or email mike@mikeweiland.com.

P.s. For instant and unlimited free search of Downtown Minneapolis condos,  click here to begin your search now!

What are the Benefits of HOAs in Downtown Minneapolis condos by Downtown Minneapolis condo specialist Mike Weiland.

Note: For a free Downtown Minneapolis Condo Buyer eBook that covers the condo buying process from beginning to end click here.

Many condo owners are involved with a HOA (Home Owners Association) in Downtown Minneapolis condos.  You will hear various stories as to how they either like or dislike being a part of it. While there are some disadvantages of being part of an association in Downtown Minneapolis condos, there are many advantages that should be considered when looking for a condo.

Property appreciation is quite often higher for Downtown Minneapolis condos that are part of an association in than condos that are not part of one. This is an important point to keep in mind when determining the present value of a condo for sale downtown and its potential future value.

Part of the reason for this condo appreciation is that people that purchase condos that are part of an association tend to take better care of their property. The common areas will generally be in much better condition than in a community of Downtown Minneapolis condos in that does not have a HOA. The community as a whole will function much better with a HOA because there is a community spirit and purpose guiding each owner.

Also, properties that are associated with a HOA quite often have more amenities and also have the funds necessary to pay for any upkeep or upgrading. In most situations these amenities are kept at very high standards. For example, you can expect a pool maintained by a Downtown Minneapolis condo HOA in are maintained much better than a public pool.

Overall, you will be living within a community that has higher standards than a community with no HOA. You have certain standards for your condo and community.  It is beneficial to move to a Downtown Minneapolis condo that contains other people with high standards as well. Not only will your condo appreciate in value at a higher rate, but your standard of living will be higher as well.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis condos. For complete information about the Downtown Minneapolis condo market including current Minneapolis condos for sale, values, and more please visit the most complete website online dedicated to everything Downtown Minneapolis condos at www.LivingInDowntownMinneapolis.com. Contact me with any of your condo or mortgage related questions today. Call me at 612-735-6834 or email mike@mikeweiland.com.

P.s. For instant and unlimited free search of Downtown Minneapolis condos click here to begin your search now!

Downtown Minneapolis Condo Buyer Tax Credit Extension Explained.

Watch this short video for a brief review of the tax credit extension.  If you would like additional information, click on our eBook request below and type your questions.

Note: For a free Downtown Minneapolis Condo Buyer eBook that covers the condo buying process from begining to end click here.

How to Find a Top Real Estate Agent For Buying a  Downtown Minneapolis Condo.

Note: For a free Downtown Minneapolis Condo Buyer that covers the Downtown Minneapolis condo buying process from begining to end click here.

Buying a condo can be a very daunting process. Let's face it. This will be one of the biggest decisions you will ever face in your life, and you don't want to take this decision too lightly. There's no doubt that you will be very satisfied with your condo in Downtown Minneapolis, but will you pick the top agent to work with you in finding your condo? Here is what to look for when trying to find an agent who is at the top of their game.

One of the easiest ways to know if a real estate agent in the Downtown Minneapolis condo market is a good fit for you is to interview the agent. There all kinds of questions you can ask to get key information.

What you find out will reveal to you whether or not the agent is right for you. During your interview, you want to know if they specialize in Downtown Minneapolis condos.  Is their office in Downtown Minneapolis? Do they personally live downtown?  What details do they know about the history, developer, and contractor of each building? Do they know who lives in each building?  Of course there are the basics; is the agent licensed and for how long? You may want to inquire if the agent has received any rewards or recognition for his or her skills. Does the agent have a particular marketing plan or strategy in place for you? What will the agent charge you for his or her services? Is the agent able to provide you with any sort of references? You may even want to ask the agent what separates them from the competition.

You may also want to pay attention to how knowledgeable the agent is about the Downtown Minneapolis real estate market and whether or not it truly seems that the agent is working towards your best interests rather than solely the interests of the sellers of the condo.

The interview should reveal that the agent understands your needs and is accessible. Can your agent be reached by phone, text, and email? Do their office hours fit in with your schedule? If the agent's answers to all of the above questions are suitable for you, you have found your top real estate agent for buying a condo in Downtown Minneapolis.

Your real estate agent will be your partner and your confidante during the condo buying process. You want someone who you feel great about, and if you know that they are well-qualified, then you're sure to have a great condo-buying experience.

Buying a condo in Downtown Minneapolis can be one of the best things you'll ever do for yourself. The real estate agents for Downtown Minneapolis condos are some of the best in the business. There's a wealth of free information available on the website at www.LivingInDowntownMinneapolis.com.

For all of your Downtown Minneapolis condo needs, contact me at 612-735-6834 or mike@mikeweiland.com.

P.S. For a free Downtown Minneapolis Condo Buyer that covers the Downtown Minneapolis condo buying process from begining to end click here

Check out this quick September 2009 recap of the Minneapolis real estate market.

Why Payoff Your Mortgage Early?, by Mike Weiland, Downtown Minneapolis Real Estate Expert

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An early mortgage payoff is a must for every homeowner.  Even if you are not disciplined, you too can pay off your mortgage years before it comes due.  Homeowners who have discipline, but lack the knowledge needed to pay off their mortgage early, can benefit from similar financial planning know how.

Some mortgage lenders will set up a special repayment plan for a fee.  These plans can be a biweekly repayment structure, or an extra payment.  Although it is best to work out a repayment option that does not require you to pay an additional fee, if that is the only way you can make the payment – do it!  Consider what the fee will cost against the amount of money you will save over the life of the loan.

It is possible to pay off a 30-year mortgage in 20-years or less by making extra payments and/or more frequent payments.  Your mortgage is a structured repayment plan.  Any principal paid over the calculated amount will reduce your interest debt.  Over time this translates into satisfying the mortgage debt years before it is due to be paid off.

Just imagine what you could do with the extra money you will have each month once your mortgage is paid off!  Perhaps you could retire early.

When you pay extra principal on your mortgage you build equity in your home faster.  Many people in the Downtown Minneapolis area use this extra equity to upgrade to a larger home.  Yet other financially savvy people use the extra equity to purchase a second Downtown Minneapolis area home.  This becomes an income property for them.  They are well on their way to building wealth through real estate.

If you would like more information about paying your mortgage off early or using the equity in your home to help reach your financial goals, feel free to call me at 612-735-6834 or by email at mike@mikeweiland.com.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis real estate. For complete information about the Downtown Minneapolis real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Downtown Minneapolis real estate at www.LivingInDowntownMinneapolis.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 612-735-6834 or email me at mike@mikeweiland.com.

P.S. For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!

What is the most important housing statistic for a seller?

One statistic that directly impacts buyer's decisions it is this: the gap between the cost of buying and renting. Buyers don't care about regional trends or median prices. They certainly appreciate government programs that give tax breaks and favorable mortgage terms, but in the end it all boils down to one key calculation: is the monthly cost of buying a home competitive with the cost of renting.

Most renters would prefer to buy if the cost is equal or close. This statement seems obvious but it uncovers some basic facts about housing. Both renters and owners need a place to live but there is both strong emotional and financial value to owning and controlling your home vs renting. If the gap between owning and renting is small this also means investors are more willing to buy homes because the income they can generate from renting will cover or come close to paying their interest costs. In short property becomes competitive with other investments.

For home sellers this information can help in two ways:

   1. Look at comparable rents for your home and mention them in your description, it might stimulate investors to consider your property.
   2. Consider targeting local renters with fliers at near buy apartment building and in Craigslist.org, you might find someone ready to make the leap.

Here is a great calculator from the New York Times you can use to assess your market. Just paste the following link in a browser.

http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html?_r=1

Home Owners Association Benefits, by Mike Weiland, Downtown Minneapolis Real Estate Expert.

Note: For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!

Builders and developers often establish Home Owners’ Associations (HOA's) for new subdivisions.  Once a development is established and the homes have been sold, the builder/developer transfers control of the HOA to the homeowners.

There are several advantages to buying a home protected by a Home Owners’ Association in the Downtown Minneapolis area.

The purpose of an HOA is to manage the common areas within the development and to enforce the rules and regulations established by the community.  Most HOA’s are run by a board of directors who are homeowners in the subdivision.  HOA membership is often mandatory for all homeowners within the development.  The fee for membership is determined by several factors such as maintenance and utility costs.

Rules and regulations are established for the purpose of maintaining high property values within the community.  This fact is what draws many buyers to a home within an HOA community.  This insures a neighbor will not do anything to their property that will have a negative effect on the market value of the neighborhood.  These rules and regulations are known as “CCR” which stands for “covenants, conditions and restrictions.”  Some common CCRs include allowable exterior house paint color, type of allowable fence material, and landscaping guidelines.  I would be happy to discuss specific CCRs in the Downtown Minneapolis area with you; just email me at mike@mikeweiland.com.

Amenities such as a golf course, tennis courts, and swimming pools, are maintained with funds from the HOA fee.  Other uses of the fee include payment for water, sewer, trash collection, and ground maintenance.  This insures proper upkeep of the facilities which in turn, keeps up property value.  More information about Home Owners’ Associations can be found at www.LivingInDowntownMinneapolis.com.

Ground maintenance is perhaps the most overlooked benefit of an HOA.  The grass needs to be cut and watered; plants and trees need to be tended to.  Even light bulbs must be changed every now an then.  The monthly HOA fee is used in part to cover these costs.

One of the best aspects of buying into an HOA subdivision is the sense of community.  Developments with HOA’s tend to be more social communities.  Neighbors have a stake in common property which they maintain and share together.

Free information about buying, selling or investing in Downtown Minneapolis real estate is available. To request free information about the Downtown Minneapolis real estate market contact me, Mike Weiland at mike@mikeweiland.com.  Have questions?  Feel free to call me with your real estate or mortgage related questions at 612-735-6834.  Complete information about the Downtown Minneapolis real estate market including current homes for sale, property values and more is available online at www.LivingInDowntownMinneapolis.com.

P.S. For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!

Buying a Downtown Minneapolis Home - The Closing Process

Note: For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!

This cartoon presentation is a quick overview that explains what happens during after a buyer and seller agree to terms on the purchase and sale of a home.

By the way, Federal Title does not have a  business presence in our area.

P.S. For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!

Is That Home is Eco-Friendly?, by Mike Weiland, Downtown Minneapolis Minnesota Real Estate Expert.

Note: For instant access and unlimited free Downtown Minneapolis Minnesota mls home search click here to begin your search now!

So you want to buy a green home in Downtown Minneapolis Minnesota – but don’t know where to start?  There are many points to consider when evaluating if a home is environmentally friendly.  Being green is more than just using eco-friendly products.  Other items to look at include sustainability and efficiency.

Of course using products that were produced with the environment in mind is important.  However, sometime it can be green to use an older product.  Recycling vintage products such as antique flooring or decorative hardware is eco-friendly because new materials and energy are not being consumed to create the product.  New homes and newly remodeled homes are using this practice more and more.  To find out more about green homes in Downtown Minneapolis Minnesota contact Mike Weiland at 612-735-6834 or at mike@mikeweiland.com.

When new items are purchased for a home there are several points to consider.  Water and energy consumption are big factors.  A green home can appear to be the same as a traditional home.  Both homes have toilets, water heaters, showers, clothes washers, and garden irrigation systems.  The difference between the two houses is the green home chooses environmentally conscious designed appliances to do the job.  A tankless water heater uses less energy to heat because the water is heated only when called for.  Traditional water heaters use energy to keep the water in the tank hot 24/7.  Showerheads in the bathroom and faucets on all of the sinks can be installed with flow restrictors.  This will use less water.  A front load washing machine uses less water than a top load machine.

The landscape of a home can tell a lot about how efficient and sustainable it is.  The orientation of a home on the land should be eco-friendly.  When looking at homes in the Downtown Minneapolis Minnesota area notice how the home sits on the property.  It should make the most out of daylight.  This will reduce the need for heating and cooling.  Landscaping is important too.  Plants that are native to Downtown Minneapolis Minnesota have many benefits over other landscaping.  Native plants use less water, need less maintenance, and generally are less susceptible to pests.  Other green landscaping practices include a system for gathering rain water and grey water to use as irrigation.

Green homes help the homeowner’s budget as well as the environment.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis Minnesota real estate. For complete information about the Downtown Minneapolis Minnesota real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Downtown Minneapolis Minnesota real estate at www.Living-in-Edina.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 612-735-6834 or email me at mike@mikeweiland.com.

P.S. For instant access and unlimited free Downtown Minneapolis Minnesota mls home search click here to begin your search now!

Why You Should Purchase a Home Warranty in Downtown Minneapolis.

Whether you don the role of a seller or buyer of a home, a home warranty is of utmost significance. It is a protection against economical loss and provides immense peace of mind. Purchasing a home warranty in Downtown Minneapolis is hence worth all the effort and the cost. If you have employed a real estate agent in Downtown Minneapolis he will certainly advise you to purchase a home warranty.

What is a home warranty?

A home warranty is a plan that proffers the owner’s property, protection from unforeseen breakdowns of electrical, plumbing, heating and air-conditioning installations as well as dishwashers, stoves, ovens, garbage disposals and water heaters.

Most Home protection plan offering companies also provide optional coverage of Jacuzzis, swimming pools, spas and hot tubs on payment of extra amounts. The protection however is not extended to damage that exists prior to taking the policy. Some companies charge a service charge each time they send a technician for making repairs.

Why should you purchase a home warranty in Downtown Minneapolis?

It is beneficial to the seller to purchase a home warranty because it raises the sale value of the house in Downtown Minneapolis by making the house more attractive to the buyer. A home warranty gives the buyer a more solid assurance that the plumbing, heating and electrical components of the house have no blips and in case any arise in the future within a year or so they will be taken care of by the home warranty company.

It also saves the seller from losing money on repairs after his escrow closes. It saves the seller from the hassle of a law suit by the buyer. Possessing a home warranty can also help you get a loan from lenders as they usually ask for complete insurance coverage of your home.

Your home insurance is not as comprehensive as a home warranty because often the home insurance policy does not cover problems like mold infestation, damaged plumbing, heating and electrical systems etc. The home warranty will cover your repair expenses only if damage to the home systems occurred on their own without any negligence on your part.

A home warranty becomes imperative when the home in Downtown Minneapolis is older than ten years and its heating, plumbing and electrical equipments etc are original. Such systems stand more risk of malfunctioning. If the home systems are subject to heavy use opt for a home warranty.

Always read the home warranty contract well to understand what is covered and what is not, before you purchase it. A buyer can purchase home warranty if the seller does not purchase it.

There is a lot of free information available to you about buying, selling or investing in Downtown Minneapolis real estate. For complete information about the Downtown Minneapolis real estate market including sellable homes, property values and more please visit the most complete website online dedicated to Downtown Minneapolis real estate at www.MikeWeiland.com. I will be glad to answer your real estate or mortgage related questions. Call me on my cell at 612-735-6834 or email me at mike@mikeweiland.com.

P.s. For instant and unlimited free access to Downtown Minneapolis Minnesota mls property search click here to begin your search now!